Swiss National Bank increased its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 32.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,985 shares of the company’s stock after buying an additional 28,000 shares during the period. Swiss National Bank owned 0.18% of Planet Fitness worth $2,177,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in PLNT. First Mercantile Trust Co. increased its stake in Planet Fitness by 19.8% in the first quarter. First Mercantile Trust Co. now owns 13,632 shares of the company’s stock worth $262,000 after buying an additional 2,249 shares during the period. Bayesian Capital Management LP increased its stake in Planet Fitness by 24.7% in the fourth quarter. Bayesian Capital Management LP now owns 13,109 shares of the company’s stock worth $263,000 after buying an additional 2,600 shares during the period. Emerald Mutual Fund Advisers Trust increased its stake in Planet Fitness by 0.6% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 587,592 shares of the company’s stock worth $11,323,000 after buying an additional 3,574 shares during the period. Capital One National Association increased its stake in Planet Fitness by 5.0% in the first quarter. Capital One National Association now owns 77,675 shares of the company’s stock worth $1,497,000 after buying an additional 3,716 shares during the period. Finally, Allianz Asset Management AG increased its stake in Planet Fitness by 27.5% in the fourth quarter. Allianz Asset Management AG now owns 32,890 shares of the company’s stock worth $661,000 after buying an additional 7,090 shares during the period. Institutional investors own 94.54% of the company’s stock.
Planet Fitness, Inc. (PLNT) opened at 23.57 on Thursday. Planet Fitness, Inc. has a one year low of $16.91 and a one year high of $25.10. The company’s 50-day moving average price is $21.31 and its 200 day moving average price is $20.57. The firm has a market capitalization of $1.71 billion, a PE ratio of 43.81 and a beta of 0.94.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Tuesday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $91.10 million during the quarter, compared to analyst estimates of $91.33 million. Planet Fitness had a negative return on equity of 79.66% and a net margin of 6.99%. On average, analysts forecast that Planet Fitness, Inc. will post $0.47 earnings per share for the current year.
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A number of research firms recently weighed in on PLNT. Roth Capital restated a “buy” rating and issued a $23.00 price target on shares of Planet Fitness in a research note on Wednesday, May 3rd. BidaskClub upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Zacks Investment Research upgraded Planet Fitness from a “strong sell” rating to a “hold” rating in a research note on Saturday, March 4th. Robert W. Baird restated an “outperform” rating and issued a $28.00 price target on shares of Planet Fitness in a research note on Thursday, April 6th. Finally, Guggenheim restated a “buy” rating and issued a $24.00 price target on shares of Planet Fitness in a research note on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $24.33.
In other Planet Fitness news, CEO Christopher Rondeau sold 20,000 shares of the stock in a transaction on Thursday, April 6th. The stock was sold at an average price of $19.27, for a total transaction of $385,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Esserman sold 16,085,510 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $20.28, for a total value of $326,214,142.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,205,510 shares of company stock valued at $328,538,743. 19.87% of the stock is currently owned by corporate insiders.
About Planet Fitness
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.
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